Kenya Commercial Bank (KCB) Group has bagged two top global awards at a gala dinner that was held by the Banker Magazine in the United Kingdom (UK).
KCB Bank Kenya and Trust Merchant Bank SA (TMB) were named the best banks of the year in Kenya and the Democratic Republic of Congo (DRC) respectively.
KCB Bank Kenya was recognized for its expansion efforts when it successfully finalized the acquisition of Trust Merchant Bank SA (TMB) in the Democratic Republic of Congo (DRC) in 2022.
In August 2022, in one of the most significant transactions in Africa’s financial sector in recent years, KCB Group announced the acquisition of Trust Merchant Bank (TMB), one of the DRC’s largest banks and KCB’s largest subsidiary outside Kenya.
The recognition comes on the back of major recent accolades won by the Nairobi Securities Exchange (NSE)-listed lender with the latest one being ranked as one of Africa’s largest banks for the second year running by The Banker’s Top 100 African Banks 2023 Report.
“We are delighted to receive these recognitions as they give us the impetus to further entrench our ability to consistently deliver on our long-term product innovation and service promise. They also entrench our ongoing focus on supporting inclusive finance,” said KCB Group PLC Chief Executive Officer (CEO) Paul Russo.
Read: KCB Bank Bags Two Global Awards
KCB Group was also declared the world’s 6th strongest banking brand with a Brand Strength Index (BSI) score of 90.4 out of 100 and a corresponding AAA+ rating.
Moreover, the listed lender also climbed three places to 363rd, making it among the world’s top 500 most valuable banking brands by Brand Finance.
Among the other highlights of the year by KCB was a stronger focus on green lending, with a view to increasing the green portfolio’s share of the bank’s overall loan book to 25 per cent by 2025, as part of a wider initiative to hit net-zero carbon emissions by 2050.
Read: Dubai Magazine Recognises KCB As Kenya’s Most Sustainable Bank